资源科学 ›› 2020, Vol. 42 ›› Issue (8): 1551-1565.doi: 10.18402/resci.2020.08.10

• 关键矿产管理政策 • 上一篇    下一篇

中国稀土产业发展财政支持效应及其影响因素

董娟1(), 郑明贵1,2(), 钟昌标3   

  1. 1.江西理工大学经济管理学院,赣州 341000
    2.中国科学技术大学管理学院,合肥 230026
    3.云南财经大学商学院,昆明 650221
  • 收稿日期:2020-02-19 修回日期:2020-06-12 出版日期:2020-08-25 发布日期:2020-10-25
  • 通讯作者: 郑明贵
  • 作者简介:董娟,女,山西洪洞人,博士研究生,主要研究方向为矿业技术经济与管理。E-mail: idongjuan@163.com
  • 基金资助:
    国家社会科学基金重点项目(18AGL002)

Effect of government financial support on the development of China’s rare earth industry and influencing factors

DONG Juan1(), ZHENG Minggui1,2(), ZHONG Changbiao3   

  1. 1. School of Economics and Management, Jiangxi University of Science and Technology, Ganzhou 341000, China
    2. School of Management, University of Science and Technology of China, Hefei 230026, China
    3. School of Business, Yunnan University of Finance and Economics, Kunming 650221, China
  • Received:2020-02-19 Revised:2020-06-12 Online:2020-08-25 Published:2020-10-25
  • Contact: ZHENG Minggui

摘要:

研究中国稀土产业发展财政支持效应对于完善稀土产业政策理论、优化财政支持政策体系和实现稀土产业可持续发展具有重要价值。本文以中国稀土上市公司为样本,构建了基于SBM-DEA四阶段分析方法的财政支持效率评价模型和基于面板FGLS估计方法的影响因素模型,测算和分析了2010—2019年中国稀土产业财政支持效率及其影响因素,并区分稀土产业链前后端进行比较研究。结果表明:①中国稀土产业的财政支持效率年平均值为1.313,财政支持对65%的稀土上市公司具有“激励效应”,整体达到了财政支持政策设计目标,但仍对35%的稀土上市公司存在“挤出效应”;②稀土产业链前端和后端的财政支持效率年平均值分别为1.145和1.377,后端的财政支持“激励效应”显著大于前端,财政支持有利于推动稀土产业链向后端延伸;③稀土产业财政支持效率随时间推移整体呈下降趋势,“激励效应”逐渐转为“挤出效应”,专项政策的出台能够在短期内提升财政支持效率,但长期效果有限;④财政支持强度与稀土产业财政支持效率之间呈“倒U型”关系,企业规模对稀土产业财政支持效率具有显著正效应。本文深化了财政支持对中国稀土产业发展效应问题的认识,可为中国稀土产业的差异化财政支持政策制订提供参考。

关键词: 财政支持, 稀土, 产业链, 效率评价, 激励效应, 挤出效应, SBM-DEA四阶段模型, 中国

Abstract:

Research on the effect of government financial support on the development of the rare earth industry in China is of great value for improving the theories of policy study of the rare earth industry, optimizing the policy system of government financial support, and realizing the sustainable development of the industry. Taking listed rare earth companies in China as examples, this study constructed an efficiency evaluation model of government financial support based on slacks-based measure data envelopment analysis (SBM-DEA) and an influencing factor model based on panel feasible generalized least squares (FGLS) estimation method, calculated and analyzed the efficiency and influencing factors of government financial support for China’s rare earth industry from 2010 to 2019, and distinguished between the front-end and the back-end of the rare earth industrial chain to compare and analyze the difference of government financial support effects. The results show that: The annual average value of government financial support efficiency of China’s rare earth industry is 1.313. Government financial support has an “incentive effect” on 65% of the listed rare earth companies, which has achieved the overall goal of government financial support policy. But it still has an “exclusion effect” on 35% of the listed rare earth companies. The annual average values of government financial support efficiency of the front-end and the back-end of the rare earth industrial chain are 1.145 and 1.377, respectively, which means that the “incentive effect” of government financial support on the back-end of the inductrial chain is significantly greater than that on the front-end. Government financial support is conducive to promoting the extension of the rare earth industrial chain to the back end. With the passage of time, the government financial support efficiency of the rare earth industry as a whole shows a downward trend, and the “incentive effect” gradually turns into the “exclusion effect”. The introduction of special policies can improve the efficiency of government financial support in the short term, but the long-term effect is limited. There is an inverted U-shaped relationship between government financial support intensity and government financial support efficiency of the rare earth industry, and at the enterprise scale, a significant positive effect on the government financial support efficiency of the rare earth industry can be observed. This study may deepen the understanding of the effect of government financial support on the development of China’s rare earth industry and provide a reference for the formulation of differentiated government financial support policies for China’s rare earth industry.

Key words: government financial support, rare earth, industrial chain, efficiency evaluation, incentive effect, exclusion effect, SBM-DEA four-stage model, China